Toronto-Dominion Bank, Canada’s largest bank by assets, believes the country sits on a massive investment opportunity but requires deeper structural reforms to unlock it. Prime Minister Mark Carney’s federal budget targets approximately C$1 trillion in combined public and private investment over five years, but TD’s chief economist Beata Carani describes the approach as largely correcting previous policy rather than a genuine leap forward. The bank argues that current tax incentives fall short without a fundamentally more competitive tax and regulatory framework. This urgency is heightened by persistent uncertainty around US trade relations, which have slowed capital formation in Canada.
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